VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 3,760 Affiliated Managers Group, Inc. $AMG

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Affiliated Managers Group, Inc. (NYSE:AMG) during the second quarter, HoldingsChannel reports. The fund bought 3,760 shares of the asset manager’s stock, valued at approximately $1,272,000.

Several other institutional investors also recently modified their holdings of AMG. California State Teachers Retirement System lifted its stake in shares of Affiliated Managers Group by 30,051.3% in the 2nd quarter. California State Teachers Retirement System now owns 9,905,306 shares of the asset manager’s stock valued at $3,351,956,000 after acquiring an additional 9,872,454 shares during the last quarter. BlackRock Inc. acquired a new position in Affiliated Managers Group in the 2nd quarter worth about $938,294,000. Bank of America Corp DE acquired a new position in Affiliated Managers Group in the 2nd quarter worth about $146,331,000. Norges Bank bought a new position in Affiliated Managers Group in the fourth quarter valued at about $113,743,000. Finally, Balyasny Asset Management L.P. raised its position in Affiliated Managers Group by 3,811.8% in the second quarter. Balyasny Asset Management L.P. now owns 311,383 shares of the asset manager’s stock valued at $61,271,000 after purchasing an additional 303,423 shares during the last quarter. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AMG. Barrington Research set a $425.00 price target on Affiliated Managers Group in a report on Friday, July 31st. Wall Street Zen cut shares of Affiliated Managers Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Affiliated Managers Group in a research note on Friday, June 26th. Finally, Zacks Research raised shares of Affiliated Managers Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to MarketBeat, Affiliated Managers Group currently has a consensus rating of “Buy” and a consensus target price of $370.86.

Affiliated Managers Group Stock Up 0.3%

Shares of Affiliated Managers Group stock opened at $355.56 on Friday. The firm has a market cap of $9.19 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 0.48 and a beta of 1.10. Affiliated Managers Group, Inc. has a one year low of $230.10 and a one year high of $392.92. The stock’s 50-day moving average is $364.21 and its 200 day moving average is $325.41. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.24.

Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings data on Thursday, July 30th. The asset manager reported $8.29 earnings per share for the quarter, beating the consensus estimate of $7.90 by $0.39. The company had revenue of $640.70 million during the quarter, compared to analyst estimates of $590.94 million. Affiliated Managers Group had a net margin of 37.72% and a return on equity of 21.94%. Affiliated Managers Group’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.39 EPS. Equities research analysts anticipate that Affiliated Managers Group, Inc. will post 36.69 EPS for the current year.

Affiliated Managers Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 10th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date of this dividend was Monday, August 10th. Affiliated Managers Group’s payout ratio is currently 0.14%.

Affiliated Managers Group Profile

Affiliated Managers Group, Inc (NYSE:AMG) is a global asset management company that partners with a diverse group of independent investment management firms. Through its affiliated managers, the company provides investment strategies for institutional investors, financial intermediaries, and private wealth clients.

AMG’s affiliated firms offer a broad range of products and services, including actively managed equity and fixed-income portfolios, alternative investments, multi-asset strategies, private-market investments, and customized wealth management solutions.